December 12, 2019
How will Brexit impact e-commerce and retailers?

How will Brexit impact e-commerce and retailers?


Hi guys! Welcome back to Talking Brexit with URBANTZ and Hadi and Josh! Today we are going to be talking about retail. And Brexit! Cool. So, Josh what is the between retail and Brexit? If we look at it, retail and e-commerce are going to be one of the most affected industries as a result of Brexit. Currently, around 15% of the UK e-commerce is done across borders the majority of which is done with the EU. So, it is easy to say, the impact is going to be significant. Fair enough. And there’s going to be an initial decrease in purchase? Simply because within that transition phase that we have – if we go for a deal, that is – we don’t know yet. UK shoppers are more likely not to shop as they shop at the moment. So that is one of the issues that we do have. I think we have to look at it in its simplest form in terms of how products get into the UK. Two big costs are the shipping and handling of which both are set to increase. This obviously means an increase in business costs. That is completely correct, but I think from one perspective. In the EU, there’s going to be an opportunity for them to actually buy online from UK outlets simply because the Stirling is going to be lower than it is at the moment. So, there is going to be an opportunity sadly not for us UK. I think you are right – I mean we have to look at it in terms of what retailers and e-commercists do. Something we have to keep doing is look forward and keep investing in technology and solutions that are available. And not just in the technology but also in European partners that know the market the market and are able to provide solutions to problems that we will have to deal with it. That’s fantastic. We’ll touch base on that on the next video. Stay tuned and thanks for listening guys!

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